I played with the Demo for a while, and I did research into the platform, the brokerages for futures trading. Fees, costs, transfers. Everything.
Not ONE TIME did I ever encounter anything in relation to NinjaTrader that mentioned that a user had to pay a monthly subscription fee for live data. Your demo obviously has free live data. Your website specifically advertises free live data. First at the bottom of the page, then in the associated linked page. And nowhere is there an astrisk to denote that it is only temporarily free.
On the puchase options of the platform. It quite clearly has no notation that a subscription for live data is required, and one would think that this fee might be mentioned somewhere.
When I spoke to the rep who called me the day after I installed the demo, I specified that I was coming from TDAmeritrade's ThinkOrSwim platform, and asked quite specifically what differences there were. That obviously things would be charged differently between the platform. But the only difference I was given was in the direct fees associated with trades. A subscription to live data, when I expressed exactly what I was going to be using NT for, was never mentioned. In fact, when my account went live and I asked why I was not receiving a data feed, I was referred to the platform technical assistance and it was never mentioned that I needed a subscription for that service. Technical support immediately knew what the 'problem' was, and I was instructed on how to get the subscription.
By the way, for anyone new, you have to go to the website, login, go to Help, to Account Management, to Select Market Data. And there and only there is the only place that I found that now mentions that you have to have a subscription. So even though the platform GETS the data, it's just not going to show you any unless you pay for it. Luckily I am not a professional, and am only looking to do futures on NT, so I'm only paying $4 a month. But getting to this point was ridiculous and deliberately hidden.
To add the whipped cream on this sundae of stupid, I just received an email saying that my two week trial of live data was about to be over. Yet again, NOWHERE does it say that the demo only gets two weeks of live data before cutting you off. The email goes on in it's brief summation to let me know that I can continue receiving free data by funding an account. Not only free, but UNLIMITED, IN CAPS. I am going to ASSUME that this free UNLIMITED data is only for the duration of the demo, with a funded account. Again no mention of this limitation. That's kind of what the asterisk is for in cases like these NT!
----
And on a separate note. I spoke with my rep, and went to the forum, and did my bits of research on Phillips Capital and on Dorman Trading. I was informed by my rep that Pillips is in the testing phase of ACH transfers in and out of their NT accounts, and that it should be running in the next couple of months. Well, come to find out, PC has been 'planning' on adding ACH for well over a year, and when I asked them about it, they did confirm that they are testing, but that they have no time frame in mind for availability.
Luckily, I suppose, I found this out prior to funding the account. So of course I went with Dorman Trading, because while they are not, to my knowledge, planning ACH transfers, they do offer free withdrawals in check form.
Well. I contacted my rep to ask about the wait time on receiving a withdrawal check, and was sent to the brokerage support. Only here to be told that IN FACT, DT is not currently offering withdrawal checks AT ALL. Only wire transfers, which cost $30 a pop. So now I'm potentially faced with having to transfer my funds from DT to CP, assuming I can even do that in such a short time frame since many brokerages require a significant amount of time to pass before allowing withdrawal/transfer (I admit I have not yet pursued this course as I am still awaiting a second response from NT regarding when DT may offer their very clearly advertised free check withdrawals again).
----
My point in both of these gripes is that you guys have a lovely, simple platform for what I need, with decent fees, and reasonably priced for a lifetime license. You have tons of information, tutorials, how tos. Everything from setup to strategies. And it seriously irritates me that there was virtually no transparency regarding either of these facts. One, that live data requires a subscription fee to be paid. And Two, that PC has no time line on ACH and that DT is not currently offering checks.
There is no reason that one of the dozens of emails I have received from NT could not have mentioned one or both of these things. And there is no reason that the platform can not mention in demo mode that a subscription for live data is normally required.
----
I have no intention of moving on, as I truly like the platform, etc. But come on guys and girls. Don't surprise us NT newcomers with things like this.
**Edit: I would add that after a forum search for 'subscriptions', a NT person also stated recently that "The cheapest solution for live market data would be to open an account with a supported broker. For example, funding an account with NinjaTrader Brokerage will provide ongoing market data access through CQG/Continuum".
Well, I funded the NT Brokerage, and I'm using the Contiuum. So why do I have to also pay for a subscription?
Comment